Greece’s NBG takes over deposits of Peloponnese coop bank

19 December 2015
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Dec 18 Greece’s largest lender National Bank (NBG) will take over the deposits of Peloponnese Cooperative Bank which will be liquidated after failing to raise funds to meet capital adequacy requirements, the country’s central bank said on Friday.

Aiming to safeguard deposits at the small, 13-branch cooperative lender, the Bank of Greece explored the interest of other banks in acquiring all of the cooperative lender’s deposits and opted for their transfer to National Bank.

It did not provide details on the amount of deposits that will be transferred.

The difference between the value of liabilities and assets that will be transferred to NBG will be covered by the Hellenic Deposit and Investment Guarantee Fund, the Bank of Greece said.

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